Suzie,I would suggest looking into crowdfunding websites such as Kickstarter, Indiegogo or others. They can be great places not only to gain funding for your product, but also to validate that you have correctly positioned your product and that the market is reacting favorably to a product that isn't even available yet.You will need to think hard about a launch strategy as well as what type of rewards you're willing to setup at the different tier levels, but all of that can set you up for a successful campaign. Also clearly explaining or demoing the product in a video can really increase the audience understanding and value proposition of the product.I would also recommend that if you are interested in pursuing this avenue, that you browse the different platforms to find out which one is bet suited to your product, as well as research some successfully funded campaigns and see what you can learn from them to apply to your own.

Thanks for the article Andrew! Pretty scary to think what happens if my business fails but nonetheless always a good idea to know the different types of insolvency, especially when legal advice is so expensive and hard to get.

You need to be aware of your obligations under Australian Consumer Law relating to consumer guarantees. I suggest you visit the ACCC website about consumer guarantees and when extended guarantees are illegal. Under Australian Consumer Law there is already inbuilt consumer guarantees that relate to the product and repair guarantees without the need to purchase extended warranties. Choice has also undertaken some work in this area.

Yes I do, National Warranty Services has that service -- resellers too. Contact Don Card at nationalwarranties.com.au (The website looks straight out of 1996 but its a genuine business with offices in Redcliffe Qld).

I have both given and received through crowdfunding but can definitely understand that it might not be to everyone's liking. We successfully raised money for a hostel-type venture and received enough to get the venture off the ground. Likewise a friend of mine raised over 750,000 to create the latest in his adventure game series. And I know of a couple of people who have managed to successfully publish books through this type of fundraising method as well.

Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes

Samson PatrickPrincipal at The Diligent Group - Small Business Specialists in Accounting, Taxation, Planning, Legal & Marketingon 27/2/14

Well done Sharon for keeping this burning issue alive for the financial well being for SMEs. We all need to get behind protecting the financial integrity of SMEs & their owners who put everything on the line for their businesses, their families & employees.

Hi Shaun,
I use ASM who offer awesome finance solutions for small businesses. No worries with software rental - as long as it is under $50,000
Scott McNally 0438 680 898 and mention my name.
Greg Ferrett

Shaun, what I know is that many large software / hardware companies such as Microsoft, Oracle, Intel, etc can potentially offer financing to their customers if the solution includes their products. Your product appear to be very specialised so somebody like Flexirent is unlikely going finance it.
I did find this other link which could be worth investigating:
Relion Finance

Hi Liam,
If you are selling higher value items to clients you may want to consider offering your clients finance.
One small business I know sells thongs (yes - shoes) to small retailers and offers 6 months interest free finance for their stock while getting paid the very next day and not wearing the risk of factoring (where you still own the debt after three months). This allows him to win a lot of new business and get stock on shelves without owning the finance risk.
Try Scott McNally at ASM Money 0438 680 898 and use my name as an introduction or email me and I can send over more details
Greg Ferrett

Phil, it is important to use a bank that has experience in your sector as often loans products are adjusted to suit certain sectors like retail, trades, professional services. The problem with applying for a general business loan is that your business cash flow or seasonal changes in running costs may not fit a standard valuation or repayment model. You just take control and not act like you are willing to accept what is offered.
So check the lender has experience in your industry and even ask for references.
Ask others in your industry what are the important features they have needed in a loan. don't be afraid to ask as most small business owners will be happy to discuss this issue. Make your own list of "must haves" and "negotiable" features.
Talk to your accountant, advisor and lawyer before signing anything and don't be afraid to use a use a broker if you need support but again seek out someone who knows you industry.